New York Offers Millions In Funding For Energy Storage Tech

The New York State Energy Research and Development Authority (NYSERDA) has announced that up to $6.3 million is now available for emerging energy storage technologies that have not yet been commercialized but could support renewable power sources in the state.

NYSREDA says the funding is part of the state’s long-term investment in the energy storage sector and supports Gov. Andrew M. Cuomo’s Reforming the Energy Vision (REV) strategy to build a cleaner, more resilient and affordable energy system for all New Yorkers.

Janet Joseph, acting president and CEO of NYSERDA, comments, “New York continues to lead the nation in finding innovative technologies to build a resilient and efficient electric grid. Energy storage will play a critical role in Governor Cuomo’s fight against climate change as we continue to add renewable energy resources throughout the state making our power cleaner.”

As the agency explains, energy storage can save power generated from clean energy systems such as solar, wind, and combined heat and power for later use, enabling buildings to reduce their reliance on the electric power grid during peak demand periods when electricity costs are highest. The ability to store energy also can make it possible for buildings and other critical facilities to continue to function in the event of disruptions on the power grid.

NYSERDA will accept concept papers during the first round of this solicitation through July 20. Papers should focus on advancing, developing and field testing of energy storage technologies that will address cost, performance and integration opportunities in New York. They should also identify how the technology will advance the state’s goal to have 50% of its electricity come from renewable resources by 2030. Through a competitive process, NYSERDA will request the best concept papers to submit follow-up proposals. The proposals selected will receive funding to move forward with their projects.

Earlier this year, NYSERDA announced $15.5 million in funding for energy storage projects that are already commercially available that can support renewable energy technologies, save customers money, and ease peak electric demand burdens on the power grid. Initial concept papers under this solicitation will be accepted through Dec. 31, 2019, or until all funds are committed.

Additionally, a report issued earlier this year showed that New York saw jobs in the energy storage sector grow 30% from 2012 through 2015, with annual industry revenues in the state reaching an estimated $906 million during that period, for a 50% increase.

Funding for these projects will be provided through the Clean Energy Fund. NYSERDA notes more information on energy storage and this funding opportunity is available here.